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Gold (XAUUSD), Silver, Platinum Forecasts – Gold Remains Stuck Near The $3350 Level
By:
Key Points:
- Gold made an attempt to settle above $3360 but lost momentum and pulled back.
- Silver markets tested multi-year highs.
- Platinum is down by almost 4% as traders take profits off the table.
Gold
Gold continues its attempts to settle above the resistance at $3350 – $3360 as traders wait for tomorrow’s U.S. inflation report.
A move above the $3360 level will open the way to the test of the resistance level at $3440 – $3450.
Silver
Silver tested new highs but lost momentum and pulled back as traders rushed to take profits off the table.
If silver settles back below the $38.00 level, it will head towards the support at $35.65 – $35.85.
Platinum
Platinum suffered a strong sell-off amid profit-taking. Currently, platinum is trying to settle below the support at $1400 – $1405.
In case this attempt is successful, platinum will head towards the next support level at $1335 – $1340.
For a look at all of today’s economic events, check out our economic calendar.
About the Author
Vladimir Zernovauthor
Vladimir is an independent trader, with over 18 years of experience in the financial markets. His expertise spans a wide range of instruments like stocks, futures, forex, indices, and commodities, forecasting both long-term and short-term market movements.
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